nine months, in order to recover against the banker; but of just so much time us was necessary to exchange the notes far specie in London. The bankers knew, as the law now stood they must pay in sovereigns if demanded; whilst it was quite obvious, that those sovereigns so paid by the bankers, must be procured from London.

if I ask you, how much you may have paid for the insertion of this article? No harm, mind, in having a bit of a column in the "best possible public instructer"; but, merely to gratify my curiosity, will you now just tell me the amount of the sum! However, in his view, the circulation of the 2. The Hon. Member said, that, this is nothing to the publication country was in a more unsatisfactory itself, which, besides the intro-state than he had ever before known it

duction, consists of four paragraphs, purporting to be a speech made by you, on the 27th of June last, during the debate on the memorable petition of that publicspirited gentleman, Mr. JONES of Bristol, who now goes by the name of "the QUAKER'S DEVIL." On these paragraphs, when I have inserted them, I will bestow a short commentary.

to be. The whole thing arose from the enormous blunder which had been committed in not re-adjusting the standard to existing circumstances, after twenty-five years of another currency, at the time of passing the Right Hon. Gentleman's Bill for returning to specie payments. That Bill had, as every one ought to have foreseen, forcibly compressed all prices. Thence, of necessity, the ruin of the farmers, and the embarrassment of the landlords--no rents re

ceivable; and thence that degree of distress amongst the whole of the agricultural part of the community, which rendered it imperative to take some measure to palliate the evil. Mr. Vausittart, the present Lord Bexley, was then persuaded to bring in his Bill, to enable the bankers to continue their issues of one pound notes. Mr. Gurney stated, that he,

The following is the speech of Mr. Hudson Gurney, in the House of Commons, on the 27th of June last, as it appears in the Parliamentary Debates. The Hon. Menaber has been but too good a prophet with re-at the time, as well as the Noble spect to the panic which he anticipated.

Lord (Folkestone) protested against the measure, and urged on the then Chancellor of the Exchequer, that, if it : 1. Mr. Hudson Gurney said, he were necessary to continue that speconsidered that the noble Lord (Folk-cies of circulation, it should be stone) was somewhat incorrect in his statement of the facts of the case. It appeared, that these bankers had refused sovereigns, and tendered Bank notes; first for seven pounds, and then for forty-five pounds of their own paper. Now, the amount was nothing. The proceeding was one of a very singular stupidity; but the inconvenience accruing was not, as the Noble Lord stated, of a person having to go through a process of

limited to the one pound notes of the Bank of England; as, in such case, the bankers would, as far as was in their power, circulate the coin of the realm in their respective districts; whereas, when issuing their own notes, it was perfectly clear, that in those notes they would make the mass of their payments, and that the ordinary circulation of gold would be entirely. confined to the neighbourhood of the metropolis.

3. Government, at that moment which he was liable, in any moment of uneasiness, arose from persons hastily coming upon him for deposits, which they wished, on the instant to realise. The Bank of England, therefore, if ever such a state of af

of pressure, had two points which they were resolved to drive; the one, to enhance the prices of agricultural produce; the other, to lower the rate of the interest of money; and, if possible, to divert investment to the re-fairs should occur, must be driven to lief of the landed interest. For these the dilemma, of either continuing to purposes, they urged the Bank to discount, at the hazard of stopping take every measure to increase the itself; or of refusing to discount, and circulation. The Bank, as he thought stopping the whole country. And who, most unwisely, first took on them-in a case like this, might be able to selves the dead-weight scheme; next, fulfil their engagements; or which they advanced on mortgage; and of the Hon. Gentlemen whom he was lastly, and worst of all, they made addressing, might, for years followadvances on Stock. But, the imme-ing, be fortunate enough to obtain their diate object was gained; prices rose; rents, was, Mr. Gurney said, a great interest fell; money became a drug. deal more than he would venture to Thence, all the bubbles, and projects, prophesy. and joint-stock companies, and Poyais loans, and the frauds of the share market, creating an immense mass of floating paper engagement; which was "singularly stupid," because still went for so much money, and he might have got the gold by still swelled the prices of every thing. sending, or carrying, the notes up

PARAGRAPH 1. So Mr. Jones

4. Now, it was through the in- to London! Precious impudence crease of prices, and through that this, to be sure; but for cool imincrease alone, that the amount of the circulation of the country banks pudence nobody equals men of was, or could be, augmented. It was this stamp. However, you allow, quite obvious, that in such a state of

things, the exchanges must turn; that that THE LAW requires coungold, here confined to 31. 178. 10d. try bankers to give gold, if deper ounce, would be leaving the

country; that the Bank of England manded, for their own notes. would have no choice, but to pull in And is that banker not, then, a their paper; that embarrassment

of any sort? Of course you have done nothing of this sort at Norwich; you have

with him) with paper

would soon begin. Prices would fraudulent scoundrel, who fobs off fall; and if, following on foreign a poor man (unable to go to law drain, any domestic alarm, founded or unfounded, should arise, the country, entirely without specie, running on the country banks for sovereigns, all the country banks must necessarily come on the Bank I of England. And here gentlemen, when speaking of the issues of the country banks, in conjunction with gold; you have not told such peothe question of currency, always ple, that they must take Bank of seemed to suppose, that the amount of his notes in circulation was the England notes, or nothing. But, have not done it, many others have, and many do it even

measure of the demand on the banker; whilst, in point of fact, the far greater part of the demands to

not told holders of your notes, who presented them and demanded

if

you

.

"

mow, at the risk of being sued and are you for the "little-shilling arrested; and you will, of course, project"? That abominable trick, agree with me, that these impu- by which the Regent duc d'Orleans

reduced France to a state of beggary; that swindling scheme of the Birmingham statesmen, which would rob whole classes of the community, and especially the poor! But, a word in your ear, "all in the quiet" how would you do with the soldiers and sailors! Ah! you start, do you? Do twirl your thumbs over one another a little, and just think of that: think of that, Master Hudson: think of giving the SOLDIER

dent violators of the law are at once fraudulent and insolent scoundrels; and that an end ought to be put to the whole of the race, leaving the nation no longer exposed to their sharping tricks.Oh! the bankers must "get the gold from London" must they What! do they sell sovereigns in London? It has recently been seen, that they get notes from London, sometimes; but there has been about a round hundred of them who could get neither. And, a little shilling!--Oh, no,"friend," what have you to say for those this scheme will never do. pretty fellows, who made their might, perhaps, without much notes payable only in London; difficulty, take away half the sawho would pay them at their shops lary of the Judges, and so forth: in paper; and who, if gold were but, as to the gentlemen in red demanded, insolently told the coats, they would "stand none of holder to go to London for the your nonsense."-What; did you gold? protest against the Small-note PARAGRAPH 2. You complain Bill? This is the first I ever of Peel's Bill, and say, that heard of it! And yet I watch

You

every one ought to have foreseened that thing very attentively. the consequences." Why, then, Strange that none of us

did not you foresee them? You heard of this before. In short, were in Parliament then, as well I do not believe the fact. But, if as now; and you never opposed you did, what were your grounds? that Bill. You suffered it to pass; Why, because you issued fires, and you were one of the unani-you wanted others not to be almous voters for it. The " stand-lowed to issue ones. Just as if ard ought to have been "re- the former were not as mischievous adjusted," did it? What, then, as the latter. Just as if other

word of this sort from you, though plenty from me, in 1824," and early in 1825, when PROSPERITY

men were not to be allowed to put is true enough; but it came after out their stuff as well as you. the mischief was done. Not a What right had you to complain of any thing tending to drive gold out of circulation, when you yourelf was one of the greatest ROBINSON was bragging. And, as 'issuers of all. "A mountebank," to that "immense mass of paper," says SWIFT, "in Leicester-fields, of which you speak, were not the "had drawn a huge assembly discounters of it as bad as the "about him. Amongst the rest, drawers and acceptors? Is not the "a fat unwieldy fellow, half receiver as bad as the thief? Are "stifled in the press, would be not the whole of the SLY crew as wicked as the openly profuse and profligate?

86

Is not the usurer as base as the squandering heir? Will you propose a law to punish, or, at least, to squeeze the gains out of these discounters? If not, you would do better to hold your tongue upon the subject.

every fit crying out, Lord! "what a filthy crowd is here! "Pray, good people, give way a "little. Bless me! what a devil “has raked this rabble together: "z-ds, what squeezing is this! "Honest friend, remove your "elbow.' At last a weaver, that "stood next him, could hold no PARAGRAPH 4. Oh! here we " longer. 'A plague confound have the "prophecy." You saw "you,' said he, for an over-that "late panic "would come. grown sloven; and who, in the But, it really was beginning at the "devil's name, I wonder, helps time you were speaking. You "to make up the crowd half so foresaw that which had, in fact, "much as yourself? Don't you arrived. You knew, and we all consider, with a that you knew, that the gold was leaving "take up more room with that the country; and therefore the "carcase, than any five here? end was clear. But you ought to “Is not the place as free for us have scen this in 1822, and again "as for you: Bring your own in 1824. And you ought to have “guts to a reasonable compass, foretold it too. The foretelling " and be and then I'll was nothing after the "QUAKER'S engage we shall have room DEVIL" had struck the blow, and "enough for us all." had showed people how they

66

PARAGRAPH 3. This paragraph might get gold.

Well, but, "friend" Hudson, WHAT IS TO BE DONE NOW? Is not there to be something done to ransack the affairs of the fellows that have broken, and to get, if possible, the means of paying the note-holders? And

Barley

..

$8 0

Pease... 49 7

Sold in the Maritime Districts, for the Week ended December 18.

Qrs

Qrs.

what is to be done to keep up Total Quantity of Corn returned as "rents, rents, rents," and to have a gold currency too? What, I say, will you advise them to do, in order to secure high priced corn and gold payments? That is the question. All the rest is

nonsense.

In short, "friend"

Wheat.. 25,033 | Oats... 21,011
Rye..

250 Beans... 3,655 Barley.. 30,676 | Pease 1,129

...

Corn Exchange, Mark Lane. Quantities and Prices of British

Hudson, we must have that Nor-Corn, &c. sold and delivered in this Market, during the week ended Saturday, December 31.

folk Petition, which you (brilliant wit!) affected to ridicule; OR,

Qrs.

£.

d.

Wheat.. 5,771 for 17.619 13 1 Average,

610

1. 18,231 17 .38 11 Barley.. 9,351 we must have and shall have that Oats.. 3,788 5,679 7 7........................29 11 Rye which I do not much care to Beans. 1,343 2,874 7 11.429 Pease .. 829 ....1,996 14 10..........48 2

A DAILY MORNING NEWSPAPER, week, the arrivals of nearly all sorts

THE

REPRESENTATIVE.

Advertisements, and Communications for the Editor, to be sent to No. 50, Albemarle-Street, until the 25th of January, and after that day, to "The Representative" Office, No. 25, Great George-Street, Westminster.

Orders for this Newspaper are requested to be sent to the Postinasters and Newsmen.

of Grain were small, but of Oats and Flour the quantities were rather considerable. This morning, owing to contrary winds, the fresh supplies of all sorts of Corn are limited. The weather being frosty has occasioned more demand for Wheat, which has advanced full 2s. to 3s. per quarter on fine qualities, and other sorts are also improved in value.

Barley for Malting is 1s. per quarter higher; Grinding parcels are also